What is data and why is it important in the modern world?

Data is information collected from various sources that can be analyzed to gain insights and make informed decisions in business and technology.\n\n• Definition: Facts, figures, statistics, or information stored digitally\n• Types: Text, numbers, images, videos, sensor readings\n• Importance: Drives decision-making, reveals patterns, predicts trends\n• Value: "Data is the new oil" - powers modern digital economy\n\nExample: Customer purchase history (data) helps Amazon recommend products, GPS location data helps Google Maps suggest fastest routes, medical records help doctors diagnose diseases more accurately.